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Brazilian oil and gas company Enauta has been granted an extension of the concession agreement for a field located offshore Brazil, enabling it to put its development plan into motion in a bid to ramp up output from the field and increase hydrocarbon reserves. Enauta revealed on Thursday that the National Agency of Petroleum, Natural Gas... Continue Reading →
(Reuters) - Shell (SHEL.L) and Brazil's Porto do Açu have agreed to jointly build a green hydrogen plant, executives told Reuters, a deal that could result in the debut of the up-and-coming technology in South America's largest nation. Under the terms of a memorandum of understanding signed on Thursday and first disclosed to the news agency, the... Continue Reading →
(OEM) Offshore accommodation provider Prosafe has agreed with China’s COSCO Shipping on another extension of the delivery of two of its newbuild units, planning to take the delivery once contract opportunities materialize with expectations for Brazil to be the most likely location. Prosafe informed on Thursday that, as part of entering into a global agreement... Continue Reading →
The President of Petrobras, José Mauro Ferreira Coelho, said that the state company is studying investing in offshore wind energy. “We are studying an alternative to capture offshore wind energy in deep and ultra-deep waters in a long-term project”, highlighted the executive at the Global Carbon Market Congress, held in Rio de Janeiro. “In 2020... Continue Reading →
(PN) Petrobras broke the record for processing pre-salt oil at its refineries. In the 1st quarter of 2022, on average, 65% of the oil load processed in the company's refineries originated in the Brazilian pre-salt, a quarterly record. In February 2022, the monthly pre-salt processed volume record was reached with 66%. In 2016, for example,... Continue Reading →
(Reuters) - Brazil's newly appointed Mines and Energy Minister Adolfo Sachsida will face resistance at Petrobras (PETR4.SA) if he pushes to remove import costs from the state-run oil company's fuel price calculations, according to people familiar with the matter. Sachsida has supported the move as a way to ease pressure on consumer prices amid a surge in... Continue Reading →
Brazilian oil and gas company Enauta has stopped production from one of the wells at the Atlanta field, located offshore Brazil, to carry out – what it describes as – minor repairs in the production line. Enauta revealed on Tuesday that production was temporarily interrupted at dawn at the well 7-ATL-2HP-RJS, which had been producing... Continue Reading →
(OE) Utilization is one of the key barometers of the health of the offshore rig market, as it identifies what percentage of the usable fleet is available versus what is not. While there has been much excitement over the past year regarding rapidly increasing offshore rig utilization (and dayrates), it appears the true extent of... Continue Reading →
(Reuters) - On one side is a president questioning the integrity of the electoral system. On the other, a challenger warning he could roll back the country's biggest privatization in decades. But investment bankers are sanguine about the impact of Brazil's presidential election this year on investor appetite for upcoming deals. They say investor attention... Continue Reading →
Wilson Sons posted net income above R$143 million in the first quarter, 437% higher than in the same period in 2021. The 437% growth in net income benefited from the exchange rate variation in this quarter, as the real appreciated 15%. But even excluding currency effects, the company reported a net income of R$ 80... Continue Reading →
